JCPenney is Running Out of Time

JCPenney is in serious trouble. There’s no sugarcoating it. The department store chain, famous for its Christmas catalogs, is losing money — and customers. It has a lot of debt. And not much cash. A dismal earnings report on Thursday only reinforced that time is running out. JCPenney reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street was expecting, and lowered its projections for the year. Sales fell 4%, also missing estimates. Much […]...